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academy:business_accountsreceivableoverview
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Accounts Receivable Checklist

This guide provides you with information about using Accounts Receivable to perform the following functions:

  • Maintain customer records
  • Maintain invoice details such as invoice number, request date, customer purchase order numbers, and assigned budget codes
  • Print invoices
  • Run customer and invoice inquiries
  • Create credit and debit memos
  • Apply full and partial invoice payments
  • Print customer notices, statements and aging information
  • Interface with Finance to allow real-time general ledger updates

LEAs may use Accounts Receivable to issue invoices for the following:

  • ESC contracts, workshops, etc
  • Driver Education
  • Library fees
  • Special events
  • Tuition payments

Some of the images and examples provided in this document are for informational purposes and may not completely represent your LEA’s process.

This guide assumes you are familiar with the basic features of the ASCENDER Business system and have reviewed the ASCENDER Business Overview guide.

  • Only class 5XXX (Revenue Accounts) can be used for Accounts Receivable functions.
  • The Remittance Address printed on invoices is retrieved from the District Administration > Tables > District Information > District Name/Address page along with “ATT: Accounts Receivable”. The invoice also displays the LEA's phone and fax numbers.

Prior to beginning this process, set up the following District Administration options:

District Administration > Maintenance > User Profiles > Permissions

Select Global Access under Accounts Receivable.

District Administration > Workflow > Approval Path

Set up the Accounts Receivable approval path.

  • In the Workflow Type dropdown, select Accounts Receivable.
  • Click +Add to add approvers to the approval path.
1.Finance > Tables > District Finance Options > Accounting Periods

Verify that the Accounts Receivable Period is accurate.

The Accounts Receivable Period field cannot be less than the Current (Open) Accounting Period field nor greater than the Next Accounting Posting Period field.
2.Finance > Tables > District Finance Options > Clearing Fund Maintenance

Under Finance Automatic Posting Defaults, add or verify the following:

• Accounts Receivable
• Overpayment Account


Users are not allowed to post (e.g., create invoices, record payments) to the current accounting period. Users can continue to post in the next period. When the Finance End of Month Closing utility is run the system increments the Accounts Receivable Period field.

In the Accounts Receivable field, the object code is 1290 by default; it can be a maximum of four digits. By default, the subobject code is set to 99; it can be a maximum of two digits. Users cannot edit the first two digits of the object code field, but can change the rest of the code.

In the Overpayment Account field, the object code is set to 2111 by default; it can be a maximum of four digits. By default, the subobject code is set to 99; it can be a maximum of two digits. Users cannot edit the first two digits of the object code field, but can change the rest of the code.

3.District Administration > Options > Accounts Receivable

Set up number of invoices to be printed each month, and any additional text you would like to print on invoices when an invoice is overdue.

These options include the number of invoices to print, labels for each invoice copy, payment terms, overdue comments, and whether to review invoices.
4.Finance > Maintenance > Vendor Information > Vendor Name/Address

Set up customers with a vendor number. This is necessary to allow overpayment refunds to be processed for the customer. Vendors tie to Customers in the following step to allow for OVERPAYMENTS on invoices.
5.Accounts Receivable > Tables > Customer Information

Set up customers. Add vendor information at this time if step 4 was completed. If not, vendor information can be added at a later date.
6.Accounts Receivable > Tables > Product Information

Add product information. This field will apply to any invoices that are entered manually and will automatically retrieve the product information and amount.

Invoices and invoice templates may be created without creating this table. However, if this table exists when an invoice is created, then the product types are conveniently available in the product type drop down. Notes: A product number is automatically created and saved when a record is created in this product table. When a product type is selected from this table for an invoice, the corresponding product number is stored in the invoice product record. If users select a product type from the drop down when creating an invoice, the associated description and unit cost becomes the default values in the invoice record but can be changed. Users should be aware that the product number is still associated with the original description regardless of any changes made to the description.
7.Accounts Receivable > Maintenance > Create/Modify Invoice or Accounts Receivable > Utilities > Import Invoices

Enter invoices manually through maintenance or import invoices.
8.Accounts Receivable > Utilities > Print Invoices

Print invoices. This process will:

• Create a realized revenue in the finance application (credit to revenue)
• Create a receivable in the 12XX account in the finance application (debit to receivable)



The invoice will no longer be available for change in A/R. It can be reprinted through Reports. It can be voided or adjusted through Accounts Receivable > Maintenance > Invoice Voids/Adjustments. If the invoice amount needs to be increased, a new invoice must be issued.

Finance > General Ledger Inquiry (invoicing)

9.Accounts Receivable > Maintenance > Invoice Payments > Payments

This will record the customer’s payment. The user can continue posting to the same cash receipt number throughout the day. This process will:

• Create a cash receipt coded against the 12XX account (credits receivable)
• Debits cash
• If an overpayment was made, the overpayment will hit the payable account that was set up in Finance > Tables > District Finance Options > Clearing Fund Maintenance



Finance > Inquiry > General Ledger Inquiry (payments)

academy/business_accountsreceivableoverview.1652214461.txt.gz · Last modified: 2022/05/10 15:27 (external edit)

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